Deposits in Massachusetts banks grew to $231 billion in fiscal 2011, up roughly 12.5 percent from $205.2 billion last year, according to Federal Deposit Insurance Corp. summary of deposits data released this week.

The only Massachusetts-based commercial or savings bank to crack the national top 50 in deposits in 2011 was State Street Bank & Trust Co. with $28 billion. Banco Santander S.A., the Spanish parent of Boston-based Sovereign Bank, was the 20th largest bank holding company by deposits, at $53 billion.

The number of state-chartered savings institutions fell to 110 as of June 30, from 117 in 2010 but deposits in the surviving banks grew slightly to $54.8 billion from $54.5 billion last year.

The year-over-year number of federally chartered savings banks remained steady at 25, while deposits grew to $24.3 billion from $21.7 billion.

There were 34 state chartered commercial banks in the state as of June 30, compared to 31 a year prior. Deposits among those banks increased to $54.1 billion from $43.5 billion in 2010.

The number of national charter commercial banks remained at 18 this year, while deposits there grew to $98 billion from $85.4 billion.

The number of banks headquartered in Massachusetts decreased fell to 162 from 165, as deposits in those institutions increased to $108 billion from $98.6 billion.

By deposits, the three largest banks in the country in 2011 were Bank of America Corp., Wells Fargo & Co. and JP Morgan Chase & Co.

Bay State Bank Deposits Reach $231B In Fiscal 2011

by Banker & Tradesman time to read: 1 min
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